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Property Prices in Elite School Catchments

New data from PRD highlights the growing financial challenge of buying property in Brisbane’s top-performing school zones. Most high-ranked catchments require house prices above $1 million, with some surpassing $2 million. However, Graceville and Chelmer remain entry points for families prioritising education, especially for those considering units.

Both suburbs fall within the catchments for QASMT—ranked Queensland’s top secondary school based on 2024 NAPLAN results—and Indooroopilly State High School, another highly sought-after school. While house prices in these areas are relatively high, unit prices offer a more accessible entry point into these competitive catchments.

Cost of Buying Into Graceville and Chelmer’s Best Schools

For house buyers, Graceville’s median house price is $1.4 million, while Chelmer’s is $1.58 million. These figures remain lower than other QASMT and Indooroopilly State High School catchment suburbs, such as Toowong ($1.71 million), Indooroopilly ($1.65 million), and St Lucia ($2.05 million).

Unit buyers, however, can access these catchments at a significantly lower cost. A $550,000 unit in Chelmer requires a $110,000 deposit, while a $670,000 unit in Graceville needs a $134,000 deposit. Both prices fall below Brisbane’s median unit price of $690,000, making these suburbs some of the most affordable within these top school zones.

For those unable to afford multi-million-dollar homes in Indooroopilly, Toowong, or St Lucia, the cheaper unit options in Graceville and Chelmer provide a practical alternative.

Affordability Trends in Brisbane’s Best School Zones

PRD research indicates that nearly all suburbs in Brisbane’s top 10 school catchments now have median house prices above $1 million. As housing supply remains limited and demand for school catchment properties continues to rise, affordability is expected to decline further.

However, unit prices in Graceville and Chelmer continue to provide cost-effective alternatives for those prioritising school access. Families struggling to afford houses in top primary school catchments may find greater flexibility in secondary school zones, which cover a wider geographic area and offer more property choices at varying price points.

Future Considerations for Buyers

With growing demand and limited availability, affordable units in Graceville and Chelmer may not remain accessible for long. Families looking to secure a place in QASMT or Indooroopilly State High School may need to act quickly before price pressures increase.

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For those committed to accessing a top-ranked school, the $550,000 units in Chelmer and $670,000 units in Graceville present a cost-effective alternative to Brisbane’s multi-million-dollar house market in elite school zones.

Published 18-Mar-2025

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